the last daily downtrend movement seems to me like an , that failed to reach last low (5).
I once read, that this could lead to an trend revearsal.
If I consider the move up rejected at point (4) of EW, that seems to me like a triangle confirming the trend revearsal.
Got no clue for target of movement. But I think, it might be at least back to 0.786 Fib Retracement.